This is a Fast News post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin BTC$104,868.96 is under selling pressure in Asian trading hours after bulls failed to break and hold above $107,250, the lower end of the multi-week sideways range that resolved bearishly earlier this month.
The latest retest and failure at this key level reinforce the validity of that bearish breakdown.
This price action adds weight to the looming “death cross” – a bearish pattern characterized by the 50-day simple moving average (SMA) edging below the 200-day SMA. It indicates that the short-term trend is weakening relative to the long-term trend, a technical setup often associated with prolonged downtrends or bear markets.
However, death crosses have proven unreliable on their own, with the previous three in September 2023, August 2024, and April 2025 all producing false bearish signals. Whether this instance marks a similar turning point remains to be seen.
For now, the spotlight returns to the critical $100,000 support. A convincing break above $107,250 is necessary to negate the bearish case and give bulls a path back to the upside.
BTC’s daily chart in candlestick format. (TradingView)Source: https://www.coindesk.com/markets/2025/11/11/bitcoin-slides-to-usd105k-after-resistance-rejection-as-death-cross-looms
